Question
1-Two restaurants, Epicurean Eats and Dinos Diner, operate in the same neighborhood. Epicurean Eats is a higher-priced, gourmet establishment and Dinos serves inexpensive, quick meals.
1-Two restaurants, Epicurean Eats and Dinos Diner, operate in the same neighborhood. Epicurean Eats is a higher-priced, gourmet establishment and Dinos serves inexpensive, quick meals. The number of customers per hour varies according to the economy. When the economy is strong, people are willing to spend more money eating out. Using the following probability distribution for customer traffic at the two restaurants, answer the questions below.
Expected (EE Customers) (1 point)
Expected (DD Customer) (1 point)
Std Dev (EE Customers) (2 points)
Std Dev (DD Customer) (2 points)
Cov (EE, DD) (2 points)
Correlation Coefficent (EE, DD) (2 points)
Customers/Hour Economy Prob Epicurean Eats (EE) Dino's Diner (DD) Strong 0.3 30 Fair 0.5 Weak 0.2 50
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